We analyze the impact of capacity constraints on IPO underpricing in the US property and liability (P&L) insurance industry. Our results show that insurer IPOs experience much less underpricing when insurers go public during capacity-constrained periods. Monte Carlo simulation shows that IPOs in other industries do not exhibit similar traits, suggesting our findings are specific to the P&L insu...

Dissatisfaction with property-liability insurance is widespread and seems to be growing. Insurance availability and affordability have become major issues in election campaigns nationwide, and Congress is threatening to impose new federal regulations. This unusual amount of attention seems to reflect fundamental changes in the nature of insurance and insurance markets. Insurers maintain that th...

This article provides a case study that analyzes national macroprudential insurance regulation in Switzerland. We consider an insurance market that is based on data from the Swiss private insurance industry. We stress this market with several scenarios related to financial and insurance risks, and we analyze the resulting risk capitals of the insurance companies. This stress-test analysis provi...

This article discusses the disability insurance industry in order to provide context regarding the potential impact of genetic testing on disability insurance. It describes disability income insurance, exploring both the protection it offers and its main contract provisions. It goes on to describe the private insurance market and the differences between group and individual insurance, and concl...